This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
The Utah Certificate of Termination of Unit is a legal document used to dissolve or terminate a unit in Utah. This document is typically required when a unit, such as a limited liability company (LLC) or a partnership, is no longer operating, and the owners or members have agreed to dissolve the unit. When filing the Certificate of Termination of Unit in Utah, certain information and keywords are crucial to include. These include: 1. Unit Information: The document should start with relevant details about the unit, including the legal name, entity type (LLC, partnership, etc.), and the original formation date. 2. Termination Effective Date: The Certificate of Termination should state the intended effective date of termination, which is the official date when the unit ceases to exist. 3. Dissolution Approval: It is important to provide evidence that the termination has been approved by the unit's owners or members. This typically includes signatures of the authorized individuals or a resolution of approval. 4. Rights and Obligations: The document should clearly state the disposition of the unit's assets, debts, and any remaining legal obligations following its termination. This is important to ensure that all stakeholders are aware of their rights and responsibilities. Different types of Unit terminations may exist depending on the specific entity type being terminated. Some relevant types of Utah Certificates of Termination of Unit include: 1. LLC Certificate of Termination: If an LLC is being terminated, a specific LLC Certificate of Termination should be filed. This document follows the same general guidelines mentioned above but is tailored for Limited Liability Companies. 2. Partnership Certificate of Termination: Similarly, if a partnership is dissolving, a Partnership Certificate of Termination should be filed. This document outlines the details specific to partnership terminations, such as the names of all partners involved and the dissolution agreement. In summary, the Utah Certificate of Termination of Unit is a crucial legal document used to dissolve or terminate a unit in Utah. It is important to include relevant information such as unit details, termination effective date, dissolution approval, and the disposition of assets and obligations. Additionally, different types of Utah Certificates of Termination may exist based on the entity type being terminated, such as LLC and Partnership Certificates of Termination.
